Asia Pacific region is expected to witness the fastest growth in the global robotics process automation market within the forecast period owing to the increasing demand for business process automation solutions in the BPO sector in India and China. In addition, a strong inclination of SMEs for adopting RPA within their business functions such as human resource-related processes, accounting/finance, and procurement is also supplementing the market growth in this region. Geographically, North America region is expected to dominate in the global robotics process automation market due to the increased penetration of automation and process management solutions across the region. The application segment of robotic process automation market report is dominated by BFSI segment by capturing the largest market of 44.59 % in year 2020. The process segment of robotic process automation market report is dominated by automated solution segment by capturing the largest market of 59.45 % in year 2020.
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The type segment of robotic process automation market is dominated by Software with the largest market share of 60.46 % in 2020. In spite of that, integration of new technologies with robotic process automation can provide various opportunities for the further growth of the market. However, data insecurity risk and less potential for RPA in knowledge-based business processes may hamper the market growth. In addition, the operations provided by RPA such as ease in business processes, increased efficiency and cost-effective and highly profitable operations are also supplementing the growth of the robotic process automation market. Hence, increasing adoption of artificial intelligence is driving the growth of the robotic process automation market. For Instance, in the five years since Amazon's $775 million purchase of Kiva to form Amazon Robotics, the company has invested heavily in AI techniques, including sponsoring an annual RoboCup competition.
This integration will offer the organizations to operate with unstructured data, decision making tasks and complex processes. The manufacturers of RPA are providing advanced solutions by integrating RPA solutions with cognitive technology such as artificial intelligence (AI). On the basis of country level, global robotic process automation market is sub divided into U.S., Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Brazil, Mexico, GCC, Africa, etc.įactors such as increasing demand for business process automation (BPA) through the use of artificial intelligence (AI) & software robots and adoption of RPA technology by organizations are driving in the growth of the market. The regions covered in global robotic process automation market are North America, Europe, Asia-Pacific and Rest of the World. Based upon application, the market is segmented into BFSI, manufacturing, Pharma & healthcare, retail, telecom & IT and others. Based upon the services, the market is segmented into consulting, implementation, and training. Based upon type, the market is segmented into software and services. The study provides a crucial view of global robotic process automation market by segmenting the market based on type, services, application, and region & country level. It provides various benefits such as decreased costs, freeing up staff for higher value tasks, increased employee engagement, reduced operational risk, reduced output variability, reduced paper use/waste, driving process improvement, increased output, and many others. The ability to reduce staffing costs and human error with organizations is provided by RPA. In order to perform on a vast variety of repetitive tasks they interpret trigger responses and communicate with other systems.
RPA robots use user interface for operating applications and capturing data just like humans do. This technology permits user to configure computer software or a robot to integrate and emulate the actions of a human interacting within digital systems for executing a business process. The form of business process automation technology is based on metaphorical robots or artificial intelligence (AI) or a digital worker is nothing but the Robotic process automation (RPA).
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